creditPass news

creditPass news

Dear creditPass customers,

online trading continues to grow. Shopping is more convenient, faster, and the selection options and optimizations on the Internet are greater and more extensive than at the point of sale on site. However, we shouldn’t get too comfortable just because it becomes more comfortable around us. This applies equally to us as a provider and as a customer. We need diversity, competition and various flexible systems and alternatives in order to be able to react profitably to technical, economic or legal-regulatory changes.

Yours Manfred K. Wolff

creditPass: New products and services, new website and communication
Secure direct debit, paydirekt, compliance identification of customers and others

A lot has happened at creditPass since the spin-off as a separate GmbH in mid-2014. The cooperation with partners from the payment and collection industry has intensified and new products have been added for large customers (e.g. international integration of data sources) and for small to medium-sized customers (e.g. GWG checks). With the new website ( and this newsletter, creditPass is offering its customers information about important news and events in a timely and condensed manner to be informed.

Our tip: – just create something with like-minded people
Free provider of event information with a comprehensive program

Even earlier there were separate meetings for all kinds of things. From the well-groomed Rotarians to specialist lectures by the legal society to pottery courses and self-help groups. You had to know someone or search the net since 2000. We have now discovered the platform (following advice from students who work for us). There you can register for free and receive information on open events from like-minded people in your own region. Individual events for hikes, developer meetings or simply beer tasting are on the side, systematic search or the setting of your own events is also possible. Note: is not in any way economically or personally linked to creditPass. We just love the idea. Please tell us about your experience.

Current study: More than 80% of German retailers have customers abroad
Cross-border e-commerce is increasing – SEPA direct debit across Europe from the end of 2016

More and more online retailers based abroad are trying to sell their products on the German e-commerce market, just as Germans are increasingly active in other countries. With a survey at the University of Regensburg, ibi research has now determined how German online retailers proceed with cross-border trading and the challenges they are faced with. The results of the study show that 67 percent of the German retailers surveyed are already actively selling abroad. Another 18 percent do not sell specifically to other countries, but take orders from abroad. 8 percent do not currently sell abroad, but plan to do so in the near future. As a result, a total of 85 percent of online retailers already sell abroad. Of these, 20 percent of all orders come from other European countries and a further 7 percent from outside Europe. This is why the option of collecting direct debits from customers from other European countries from the end of 2016 is very attractive. Further information:

Bundestag hack: They were common methods and open source tools
Relatively mundane means paralyzed the IT of the German Bundestag a year ago has published further information on the hacking attack on the German Bundestag last year. After that, the attackers made use of familiar instruments, among other things with “mimikatz”. The investigations of the ICT commission are still ongoing.

PSD 2 and MaSI – the killer of credit card payments?
The requirement for strict authentication is getting closer – market partners are still at odds

The EU Directive 2015/2366 on payment services in the internal market, adopted on November 25, 2015, an update of the PaymentServiceDirective PSD from 2007, then implemented for Germany in ZAG and BGB, should also be in its new form in all EU member states with national Right to be realized. With a wise foresight and for the implementation of the parallel “Guidelines on the Security of Internet Payments” of the European Banking Authority EBA from August 2015, the Federal Financial Supervisory Authority BaFin issued circulars in May 2015 to the special regulations and administrative practice of MaRisk (minimum requirements for risk management for Banks and financial institutions) supplemented by a MaSI (minimum requirements for the security of Internet payments for banks and financial institutions). These include, among other things, special reporting obligations, logging obligations, staggered security concepts, rigorous transaction monitoring and strong customer authentication (in the past it was said to be “authentication”, now as it is commonly used in English). For the first time nothing will change for the retailer. However, it may be that due to the 2-factor authentication required there (ie at least two of the factors: 1) What do I have with me as hardware / card / device), 2) What do I know e.g. as my mother’s password or family name etc. and 3) What makes me biometric, such as fingerprint, voice modulation, keystroke behavior on the keyboard, etc.), credit card payments and other types of payment become much more annoying on the Internet and this leads to considerable sales abandonment. The popular and inexpensive direct debit procedure is not affected. This newsletter will keep you up to date on this topic.

Further questions?